Had mortgage offer accepted, what happens now?

Wise_Bat_2

Hi,

After some info off anyone who just been through this process, as me and my partner are first time buyers.

We have just had our mortgage offer accepted yestreday 22nd with the Abbey done though the broker (london and country). We where able to track it online without have to phone the broker up too much to check on process, which we found very useful.

So yesterday it update to say "We are pleased to inform you that your client(s) mortgage application has been agreed (subject to satisfactory Valuation Report and/or References). A mortgage offer will be sent out shortly".

It also said "We have requested a valuation/transcript for your client(s) property. A surveyor will contact the agent/owner shortly if they need to gain access".

We have yet to be contacted by our broker to inform us of this above update , so it handy we have been able to track it ourselves.

1) Does anyone know roughly how long till the mortgage offer is sent out?

2) How long till the valuation takes place?

3) Does the mortgage offer get sent straight to our solicitor or ourselves?

We are really keen to push this on and agree a completion date with the vendor now, which has yet to be set.

Cheers :beer: for any info to the above you can reply with.

RX-78

I'm not sure if we are typical but:

1) We recieved the letter within a week of surveyor going out
2) Valuation was done 2 days after we were told the underwriters has approved our case. We recieved building survey report within a week as well
3) We recieved a letter confirming the offer. With it we recieved a contract which looked very similar to the keyfacts which we had to sign and send back to the lender as our confirmation of accepting their offer. The solicitor recieved contract documents with small prints which we had to sign and send back to them.

Now this was almost 4 weeks ago and we still haven't exchanged.....